Accounting giant PwC will refer small business clients seeking alternative sources of finance to P2P lender Funding Circle, according to a statement from the pair.
As part of the agreement, new Funding Circle borrowers will be able to access PwC’s My Financepartner, a new subscription-based accounting service aimed at smaller, growth-oriented companies.
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The service enables small businesses to operate their finance function and access expertise on a similar basis to larger companies, but on a more affordable and flexible basis, said PwC. The package includes business analytics and compliance support and is designed to be used in conjunction with regular face-to-face meetings with a PwC accountant.
Funding Circle said the agreement with PwC would help raise the profile of the options now available to the small business community, and is recognition of the important role that accountants and professional services companies play in supporting small businesses.
James Meekings, co-founder of Funding Circle, said: "Some 77% of businesses that have borrowed through Funding Circle would always come back to us first in the future. However, many small businesses owners are still unaware of the choice now available to them. We’re excited to be working with a trusted advisor like PwC to raise the profile of our industry."
In June Funding Circle announced a similar partnership with Santander for the UK.
